St. Albert real estate market strong
Community commands highest prices, most sales in the region
Saturday, Jun 07, 2014 06:00 am
In May, St. Albert and Sherwood Park were the most active and costly cities for residential sales in the Edmonton census metropolitan area, the Realtors Association of Edmonton reported in their monthly housing bulletin.
The two communities respectively sold 103 and 102 single-family homes, representing about 14 per cent of all sales in the region.
The cities also commanded the highest prices in the region.
In St. Albert, the average cost for a single-detached home in May was $460,722, compared to $463,585 a year previous. The median price for singles in May was $429,000.
Sales were up 25.6 per cent from 82 sales in April, but down 6.4 per cent year-over-year. In May 2013, St. Albertans sold 110 singles.
Last month, residents also sold 25 condos.
The average price for a condominium in May 2014 was $259,800, with a median price of $251,000. The average selling price for condos in May 2013 was $252,137.
Greg Steele, president of the realtors association, said that housing prices are rising across the Edmonton area.
“There may be slightly different trends in some communities with occasional dips and bumps,” he said. “But there are local realtors operating in each community who can advise buyers and sellers about pricing and marketing strategies that are right for that location.”
Other active sales regions included the communities of Beaumont, Westlock and Fort Saskatchewan, while areas in the northeast, such as St. Paul, Bonnyville and Cold Lake, have declined in sales activity due to a shortage in inventory and price escalation, the association reported.
The average price of a single family detached property in the Edmonton census metropolitan area was up 2.2 per cent from April to $438,279. The all-residential average price was up 1.6 per cent, to $371,871.
Condominium prices fell 0.13 per cent to $251,688.
The average days on market for homes in the Edmonton area was 41.